Washington Post,June 11, 2008 page D4: China moves to raise bank reserve ratios for tightening credit to lead to declines in stock market and in Asia as well. The objective is to try to fight inflation. Higher food prices have been the main culprit plus energy and other commodity costs have surged in China. We know that energy, food and other costs are going up in USA as well. But would monetary policy succeed? That remains to be seen! Chinese and Americans are suffering for high costs of food and energy with common ground of concern for Sino-American Economics.
Page A2: Similarity of Chinese,California fault systems raises concerns: Hudnut,a geophysicist with the US Geological Survey is worried about the possibility of geological dominos. He said "We could get our comeuppance from Mother Nature any day here."
Susan Hough, a scientist at the USGS office in Pasadena is concerned as well.
Page D7: Steven Pearlstein wrote:"We had a public sector that was as smart and quick and innovative in developing economic policies as our private sector was in developing and embracing technologies." Here we detect the mix of public and private sectors in USA. In China,the mix of private and public sectors is in evidence as well even though the economic systems may be different in names. However,the essense is in the same ballpark as I would envision as a lifelong student of economics.
Francis Shieh a.k.a. Xie Shihao on June 11, 2008 at 9.58 a.m.
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